Montauk Renewables, Inc. (NASDAQ:MNTK) Q3 2022 Earnings Conference Call November 9, 2022 5:00 PM ET
Company Participants
John Ciroli - VP, General Counsel & Corporate Secretary
Sean McClain - CEO
Kevin Van Asdalan - CFO
Conference Call Participants
Operator
Good afternoon, everyone, and thank you for participating in today's conference call. I would like to turn the call over to Mr. John Ciroli as he provides some important cautions regarding forward-looking statements and non-GAAP financial measures contained in the earnings materials or made on this call. John, please go ahead.
John Ciroli
Thank you. Good afternoon, everyone. Welcome to Montauk Renewables earnings conference call to review the third quarter 2022 financial and operating results and business developments.
Today, we issued our earnings press release, and I'm John Ciroli, Vice President, General Counsel and Secretary at Montauk. Joining me today are Sean McClain, Montauk's President and Chief Executive Officer, to discuss business development; and Kevin Van Asdalan, Chief Financial Officer, to discuss our third quarter 2022 financial and operating results.
At this time, I would like to direct your attention to our forward-looking disclosure statement. During this call, certain comments we make constitute forward-looking statements and as such, involve a number of assumptions, risks and uncertainties that could cause the company's actual results or performance to differ materially from those expressed in or implied by such forward-looking statements. These risk factors and uncertainties are detailed in Montauk Renewables's SEC filings.
Our remarks today may include references to non-GAAP financial measures. Reconciliations to the most directly comparable GAAP financial measures can be found at the back of our slide presentation, in our third quarter 2022 earnings press release and Form 10-Q, which are available on our website at ir.montaukrenewables.com.
After our prepared remarks, we will open the call to questions. We ask that you please keep to one question to accommodate as many questions as possible.
With that, I will turn the call over to Sean.
Sean McClain
Thank you, John. Good day, everyone, and thank you for joining our call. Building on our previously announced project to upgrade our Raeger RNG facility, I will start today's call by sharing the next project in our development pipeline. In August 2022, our Board approved a development project to construct a second RNG facility at our Apex location.
Our conversations with our landfill host regarding projections in biogas feedstock availability at the site drove our assessment that a second RNG facility will be necessary to add capacity to process the additional feedstock once it becomes available.